Shiba Inu’s (SHIB) price is currently in a downtrend, but there are signs that this trend could be invalidated in the near future. SHIB holders have shifted from selling to holding their assets, which is a positive indicator. The number of active deposits, which typically signifies selling pressure, has consistently declined. Additionally, short-term investors have reduced their supply of SHIB, indicating a bullish sentiment.
The current price of SHIB is above a critical support level, and if the resistance at $0.00002584 is flipped into support, a breakout could occur. This breakout, combined with investor support, could lead to a rally in SHIB’s price. However, if the price breaks below $0.00002093, a significant drop to the next support level at $0.00001473 could occur. It is also possible that the price remains consolidated between $0.00002584 and $0.00002093, invalidating the bullish thesis.